Cyprus has the most favourable tax system for the companies incorporated or registered under any Cyprus law, and any foreign company which carries on business or has an office or place of business (permanent establishment) in Cyprus.
Now at 12.5% corporate tax, Cyprus has the lowest rates in the EU, together with Ireland (12.5%) and exemptions for certain inter-company dividends.
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Cyprus tax department, in an announcement on 26 August 2024, informed that the submission of appeals for VAT issues via the Tax For All (TFA) Portal, which was scheduled for 3 September 2024, has been postponed. The tax authority said the
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In an announcement, the Cyprus tax authority declared that withholding tax and contribution declarations (TF 7) for the years 2019 and onward may be submitted without penalties until 31 October 2024. After this date, the penalties as per by law will
Read More The Cyprus Ministry of Finance, in a release, announced that Cyprus has agreed to all safe harbours and administrative guidance provided by the BEPS Inclusive Framework concerning the Pillar Two Global Minimum Tax (GloBE rules). The release
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The Cyprus Tax Department has published the 10-year government bond yield rate of Montenegro (in Euro) and Cameroon (in Euro) as of 31 December 2022 and 31 December 2023. These rates, when increased by 5%, are utilised as reference rates for
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The Cyprus Tax Department announced an additional extension of the temporary 0% VAT rate on essential products, including meats and vegetables, until 30 September 2024. The zero VAT rate on essential goods includes all types of bread (whether
Read More According to Vietnam’s government press release on 21 June 2024, Cyprus and Vietnam officials convened and expressed their interest in continuing negotiations for an income tax treaty. Both countries agree that avoiding double taxation will
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